WealthTech Solution Market Research Report 2021-2031
The wealthTech solution market size is projected to reach US$ 204.27 million by 2031 from US$ 71.11 million in 2023. The market is expected to register a CAGR of 14.1% during 2023–2031. Blockchain and cryptocurrencies and cybersecurity focus are likely to remain a key trend in the market.
WealthTech Solution Market Analysis
Emerging technologies like blockchain, AI, and machine learning are causing a tremendous disruption in the financial services sector. A new era in finance known as WealthTech, or wealth management technology, is being ushered in by this wave of innovation. Its goal is to improve financial advising and asset management services by utilizing these technologies.
WealthTech Solution Market Overview
WealthTech transforms the way assets and finances are managed by fusing technology and wealth management. It enhances investing and personal finance by utilizing advancements like blockchain, machine learning, and artificial intelligence. WealthTech developers create software that uses artificial intelligence (AI) to generate personalized financial suggestions and automate laborious asset management procedures.
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WealthTech Solution Market: Strategic Insights
Market Size Value in US$ 54.62 Million in 2021 Market Size Value by US$ 137.44 Million by 2028 Growth rate CAGR of 14.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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WealthTech Solution Market: Strategic Insights
| Market Size Value in | US$ 54.62 Million in 2021 |
| Market Size Value by | US$ 137.44 Million by 2028 |
| Growth rate | CAGR of 14.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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WealthTech Solution Market Drivers and Opportunities
Rising Demand for Personalization to Favor the Market
WealthTech solutions can offer customized product recommendations and portfolio allocations that are in line with each investor's financial objectives, risk tolerance, and liquidity requirements thanks to sophisticated algorithms and large datasets. By adding even more personalization to the experience, contextual cues and notifications improve user engagement. Regarding FinTech within the wealth management ecosystem, these technologies provide investors a substantial chance to leverage data to make better decisions.
Growing Interest in Sustainable and ESG Investing
For many customers, governments, and companies, environmental, social, and governance (ESG) is at the top of their list of priorities. ESG issues have grown in importance as efforts are made around the globe to promote a more equitable and sustainable environment that benefits everyone. In the wealth management industry, ESG investing is beginning to gain traction due to new laws and client demand. WealthTech has made investing more accessible to the general public. Investments were thought to be reserved for the wealthy, but WealthTech has brought the process closer to the general public, enabling everyone to make as much money as they can. WealthTech has expanded access to ESG-based portfolios and made retail investing more accessible to a larger audience.
WealthTech Solution Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wealthTech solution market analysis are XX.
- Based on the component, the wealthTech solution market is divided into solution and services. The solution segment held the largest share in 2023.
- Based on the end user, the market is divided into banks, wealth management firms, and others.
- Based on the organization size, the market is divided into large enterprises and small and medium-sized enterprises.
- Based on the deployment mode, the market is divided into cloud-based and on-premises.
WealthTech Solution Market Share Analysis by Geography
The geographic scope of the wealthTech solution market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America holds a significant share of the wealthTech solution market in 2023. The region is home to major financial hubs. Also, the technological landscape in countries like the US and Canada is well established. Wealth managers are rapidly changing their strategies to integrate technological advancements into their wealth management solutions. This is leading the growth of the market in the region.
WealthTech Solution Market Report Scope
WealthTech Solution Market News and Recent Developments
The wealthTech solution market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the wealthTech solution market are listed below:
- FinMason announced that it had been chosen to provide fixed-income risk estimates by RiskPro, a cutting-edge risk profile and portfolio creation technology that assists Financial Advisors in enhancing the investor experience. (Source: FinMason, Press Release, May 2020)
- Synechron, Inc., a leading global digital transformation consulting firm focused on financial services and technology organizations, announced its acquisition of Dreamix, a custom software development company founded in 2006. Dreamix, headquartered in Sofia, Bulgaria, is a bespoke end-to-end software engineering and digital product/application development company. Dreamix caters to the customized needs of an array of globally renowned enterprise clients across key industries, including Aviation, Transportation, RegTech, FinTech, ESG and Healthcare. The acquisition of Dreamix was completed on March 26, 2024. (Source: Synechron, Press Release, April 2024)
WealthTech Solution Market Report Coverage and Deliverables
The “WealthTech Solution Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- WealthTech solution market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- WealthTech solution market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- WealthTech solution market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the wealthTech solution market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , End User , Organization Size , and Deployment Mode Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Austria, BeNeLux, Brazil, Canada, China, France, Germany, India, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Switzerland, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the wealthTech solution market in 2023.
Rising demand for personalization and regulatory changes are expected to drive the wealthTech solution market.
Blockchain and cryptocurrencies and cybersecurity focus are likely to remain key trends in the market.
FinMason, Inc., aixigo AG, InvestCloud, Inc., WealthTechs Inc., Valuefy Solutions Private Limited, 3rd-eyes analytics AG, BlackRock, Inc., Synechron, Wealthfront Inc., InvestSuite are among the leading payers operating in the wealthTech solution market.
The wealthTech solution market size is projected to reach US$ 204.27 million by 2031
The wealthTech solution market is expected to register a CAGR of 14.1% during 2023–2031
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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